Tag Archives: OPEC

Light Crude (CL1, Weekly) – Is there a reversal in crude or just a correction in downtrend?

Mr Hawk/ January 7, 2019/ Chart Of The Day, Charts Posts, Trade Idea, Trade Ideas Posts/ 0 comments

The first week of the year crude made an impressive come back although it did not manage to close above the key $50 level. Oil seems to be oversold and some short covering was necessary. The engulfing pattern on the weekly chart is a hint of possible reversal. Also MACD histogram is signalling weakening momentum as there is a hope

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June 12, 2018 – Commodity Weekly: Calm commodity markets ahead of Fed, OPEC

Mr Price Action/ June 13, 2018/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

Commodity markets had a volatile week but currently they are rather calm ahead of key events, the FOMC reate decision today and the OPEC meeting next week. Crude is stable just above recent lows while yesterday API reported surprise built up in crude and even bigger rise in gasoline inventories.Corn reacted strongly on bullish Wasde data as market expected increase

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Feb 6, 2018 – Commodity Weekly: After the support of weak dollar diminished, commodities joined the selloff

Mr Price Action/ February 6, 2018/ Weekly Charts, Weekly Commodity, Weekly Notes Posts/ 0 comments

After a supportive week of depreciating dollar commodities are getting hit by sell off in equities and overall negative sentiment in risk assets. While the dollar should have been helping commodities rise, it wasn’t entirely the case even last week and the air was filled with tension especially after the FOMC meeting on Wednesday where the Fed noted inflation is

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Jan 8, 2018 – Weekly Commodity – Commodity Index rebalancing may bring corrections this week

Mr Price Action/ January 9, 2018/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

The second week of the year is usually about Commodity Index rebalancing. During this process Commodity Index funds adjust their portfolios to those indices they follow. This often results in buying the worse performing commodities and selling the high performers. Some commodities may see a short term bounce or drop but without fundamental support any correction will be short lived Oil

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Dec 5, 2017 – Weekly Commodity: OPEC delivered extension now focus turning to US production & inventories

Mr Price Action/ December 5, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

Commodities had a bad week caused primarily by correction in metals which couldn’t be compensated by slight bounce in Energy and Agriculture. The OPEC delivered extension of the production cut as the market expected, however as this was already priced in there wasn’t enough buying power to take prices to new highs. As the huge rally from the end of

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Nov 29, 2017 – Market Update (OPEC day but will Russia, Iraq, Libya, Nigeria join? Preliminary Brexit bill EUR 50 bln, Gold attacking 1300 but…, EU to freeze funding for tax heavens, to prepare new black/grey lists, Softbank looking to buy Uber shares at 30% discount, Bitcoin a threat to global economy?)

Mr Price Action/ November 29, 2017/ Market Update, Market Update Posts/ 0 comments

  Short recap Asia in green Europe opening higher OPEC day today with not only oil but energy stocks in focus NoKo threating with new missile test again But no reaction from the markets (a sign that conflict escalation is low for the time being) Powell with dovish tilt, no change to rate path HFs having hard time to earn money from bond and

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Nov 28, 2017 – Weekly Commodity: Oil bulls supported by Canadian supply disruption, Thursday OPEC meeting in focus

Mr Price Action/ November 28, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

The last week was rather quiet due to Thanksgiving but we had some interesting moves in the commodity space due to unexpected events. First of all the tired oil bulls got some support from the Canadian supply disruption while the grain market was kept low due to huge ending stocks and good weather forecast from South America. We saw also

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Nov 21, 2017 – Weekly Commodity: Crude trader’s focus back on fundamentals, oversupply

Mr Price Action/ November 21, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

After a week of increased uncertainty following the anticorruption crackdown in Saudi Arabia, the focus is re-shifting toward fundamentals again. A Tuesday sell-off was triggered by the IEA monthly report where the agency reduced its’ global demand forecast by around 100k bpd in contrary to the last OPEC Monthly report from a day earlier. The bears got some additional support

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Nov 14, 2017 – Weekly Commodity : Did the Crude bulls run too far?

Mr Price Action/ November 14, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes Posts/ 0 comments

After the spectacular rally since September crude bulls are taking a brake recently. The main reasons of the rally were partially old news about the extension of OPEC and Non-OPEC production cut beyond March 2018. The geopolitical tension on the Middle East added further support to the bulls and the spread between the Brent and WTI widened to over 7$.

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Sep 25, 2017 – Market Update (Merkel heading to Jamaica style coalition, EUR to decline in no reforms, US corp tax rate to 20%, Moody’s downgraded UK and markets nothing…, Volatility extremely low despite hawkish Fed, SAP buying Gigya, JPMorgan picking Warsaw, Brent supported by HFs and rising spread to WTI)

Mr Price Action/ September 25, 2017/ Market Update, Market Update Posts/ 0 comments

  Short recap   Asia lower on China Europe opening lower   Merkel winner but political scene more fragmented Both Merkel’s party and Socialists short of historical results Nationalist party with 13%, signal of complications Merkel-Macron need deal for Europe and EMU reform may be at risk If no signs of reforms, the EMU spreads may widen and EUR to decline

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